The Fintech Times
APRIL 11, 2024
Thirty-nine per cent of respondents said that in 2024, someone being tricked into buying goods that don’t exist or send a bank transfer to a fraudster impersonating someone else, otherwise known as APP fraud, would be the biggest cause for concern. More complex and financially damaging types of APP fraud include romance scams.
Fintech News
FEBRUARY 15, 2024
In particular, the report notes that scamming is most successful when markets are up, exuberance is high, and people feel like they are missing out on an opportunity to get rich quickly. Additionally, many crypto scammers are moving towards romance scam tactics, making these scams more difficult to uncover.
Fintech Finance
APRIL 10, 2024
Deceptively simple, APP fraud involves a person being tricked into buying goods that don’t exist or sending a bank transfer to a fraudster posing as someone trustworthy. More complex and financially damaging types of APP fraud include romance scams. Both share a multitude of similarities with APP fraud.
FICO
APRIL 29, 2022
Increasingly, the scams involve cryptocurrencies; The New York Times also recently investigating crypto romance scams in which victims are lured into paying criminals with fraudulent, and irrevocable, transfers into digital wallets. Consumers: Slow Down, You’re Moving Too Fast. by TJ Horan.
Seon
APRIL 18, 2024
Often, the fraudsters enter through impersonation, a romance scam or another type of social engineering fraud scam. Still, the result is the same: a victim-initiated money transfer resulting in money in an account owned by a fraudster.
Neopay
MAY 28, 2024
There was a seven per cent increase in the amount of unauthorised fraud prevented, to £1.25 Victims of unauthorised fraud cases such as these are legally protected against losses. And UK Finance research indicates that customers are fully refunded in more than 98 per cent of unauthorised fraud cases.
PYMNTS
AUGUST 26, 2019
history and said in a statement that “fraud networks now target individuals and businesses alike … In the BEC scams, the fraudsters will often hack a company’s email system, impersonate company personnel, and direct payments to bank accounts that funnel money back to the fraudsters in Nigeria.”
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